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The US SEC sues Elon Musk, claiming he failed to timely disclose a 5%+ purchase of Twitter's stock ahead of his takeover of the social media platform in 2022

- Agency alleges billionaire ignored disclosure deadline in 2022  — Musk's lawyer says he did ‘nothing wrong’ and SEC has no case

Bloomberg Nicola M White

Discussion

  • @kateconger.com Kate Conger on bluesky
    If your reaction is “lol why now” you are correct.  By leaving this til the last minute, the SEC is handing the mess to the incoming administration, letting Trump decide whether to pursue a case against a top donor www.nytimes.com/2025/01/14/t...  [embedded post]
  • @drewharwell.com Drew Harwell on bluesky
    I'd Like to See Ol Elon Musk Wriggle His Way Out of THIS Jam! www.washingtonpost.com/business/ 202...
  • @digiphile Alexander Howard on bluesky
    2+ after Elon Musk bought a large stake of Twitter stock without disclosing it to investors, the SEC is suing him for failing to file a beneficial ownership report. www.sec.gov/enforcement-...  (Get used that phrase, if fhe Treasury requires Beneficial Ownership Info filing.)  [e…
  • @digiphile Alexander Howard on bluesky
    The late timing of the SEC suit & News release tonight sends a signal to Americans & the world that billionaires & national security contractors are above the law.  —  Weak enforcement will invite more violations.
  • @mvij.org Manish Vij on bluesky
    Dumping files before they're all closed [embedded post]
  • @regimecpa @regimecpa on bluesky
    It'll be exciting to read about this getting dismissed in Money Stuff [embedded post]
  • @daniloc.xyz Danilo on bluesky
    This on the heels of Jack Smith being like “we had him, but we were too late” conjures an image of a government too doddering, distracted and low-energy to deliver results.  An unfortunate meshing to the overall Joe Biden vibes that may define his legacy [embedded post]
  • @nategire @nategire on bluesky
    Between that and the videos showing his top-ranked Path of Exile 2 character is boosted and that he doesn't know how to play the game, Elon's had a rough go of it the last couple of days  —  may it only get worse for him
  • @thefred @thefred on bluesky
    Nearly three years to bring an action for an open and shut Williams Act violation.  —  Great job, everyone.  [embedded post]
  • @caseynewton Casey Newton on bluesky
    It took them almost three years to file an open-and-shut case!  But sure, why not [embedded post]
  • @elonmusk Elon Musk on x
    Totally broken organization.  They spend their time on shit like this when there are so many actual crimes that go unpunished.
  • @richardhanania Richard Hanania on x
    The SEC is suing Elon Musk! NYT reports: U.S. securities regulators sued Elon Musk in federal court in Washington on Tuesday in an enforcement action arising from his $44 billion purchase of Twitter, now called X.... The S.E.C. contends that in buying Twitter in 2022, Mr. Musk
  • @teslaownerssv @teslaownerssv on x
    Elon Musk has been constantly attacked the SEC. He told the SEC to check the people shorting Tesla and they never did. They are completely bias and hate Elon/Tesla. [video]
  • @sawyermerritt Sawyer Merritt on x
    NEWS: The SEC has sued Elon Musk in federal court over an alleged securities violation, according to a court docket. The SEC alleges Elon “committed securities fraud in 2022 by failing to disclose his ownership in Twitter and buying shares at “artificially low prices.” This [imag…
  • @gaborgurbacs Gabor Gurbacs on x
    SEC sues Elon Musk, alleging failure to properly disclose Twitter ownership, days before SEC Chair Gensler has to resign and President Trump's inauguration. This is exactly why Democrats lost. Institutions are not for abuse and weaponization. https://www.cnbc.com/...
  • @jason_kint Jason Kint on x
    the least surprising news of my day, frankly. [image]
  • @jason_kint Jason Kint on x
    if the SEC finally pulled the trigger on Zuckerberg then that might surprise me a bit. They have to be watching the NdCal and Delaware lawsuits playing out (securities and inflated metrics allegedly hidden from shareholders).
  • @krassenstein Brian Krassenstein on x
    BREAKING: Elon Musk sued by the SEC for failing to disclose purchasing more than 5% of Twitter's stock in 2022. Won't Trump's SEC just drop the suit?
  • @amitisinvesting Amit on x
    BREAKING: THE SEC IS SUING ELON MUSK IN FEDERAL COURT FOR SECURITIES VIOLATIONS 5 days before the SEC Chair retires lol [image]
  • @zerohedge @zerohedge on x
    “The agency claimed Musk failed to timely disclose a major purchase of Twitter shares ahead of his takeover of the social media platform.” 30 to life
  • @elonmusk Elon Musk on x
    @BillyM2k Exactly (groan)
  • @rob_weissman Robert Weissman on x
    The SEC has just sued Musk for securities violations. As head of DOGE, Musk is in position to work to kneecap the SEC once Trump takes office. Welcome to Trump II.
  • @billym2k Shibetoshi Nakamoto on x
    the sec is suing elon musk for buying twitter at “artificially low prices” even though he bought it for $44 billion and industry analysts said it was worth more like $30 billion? nothing makes sense man
  • r/politics r on reddit
    S.E.C. Sues Elon Musk Over Twitter-Related Securities Violations
  • r/EnoughMuskSpam r on reddit
    S.E.C. Sues Elon Musk Over Twitter-Related Securities Violations
  • r/somethingiswrong2024 r on reddit
    Lawsuit filed by SEC against Elon Musk.  What does this mean?
  • r/wallstreetbets r on reddit
    S.E.C. Sues Elon Musk Over Twitter-Related Securities Violations
  • r/popculturechat r on reddit
    S.E.C. Sues Elon Musk Over Twitter-Related Securities Violations
  • r/inthenews r on reddit
    S.E.C. Sues Elon Musk Over Twitter-Related Securities Violations
  • r/politics r on reddit
    S.E.C. Sues Elon Musk Over Twitter-Related Securities Violations
  • r/Law_and_Politics r on reddit
    S.E.C. Sues Elon Musk Over Twitter-Related Securities Violations